In effort to protect seniors from a variety of types of financial fraud, leading reverse mortgage lender AAG has joined forces with the Better Business Bureau.
Offering free “Lunch and Learn” seminars in Southern California, AAG and the BBB are helping seniors recognize the scams often directed toward them, including, grandparent scams, Medicare scams, power of attorney scams, and email scams.
Currently the Lunch and Learns are being offered In San Diego, Orange County, and Imperial County in California, but a spokesperson for AAG told RMD in an email that the partnership has worked so well that all parties are looking to expand the program in the coming year.
AAG had approached the BBB about the partnership after being named a finalist in the 2017 BBB Torch Awards for ethics, an award that recognizes companies whose leaders ensure the highest standards of ethics and generate trust.
“It’s a good fit on many levels but mainly because we deeply care about the senior community — our customers — and we want to help protect them from fraud,” the spokesperson told RMD. “In fact, the case studies we shared with BBB for the award nomination talked about AAG’s efforts to detect fraud in the loan application process, such as when we suspect that a power of attorney has been falsified.”
Seniors in America lose more than $36 billion annually to fraud, according to a press release about the partnerships.
“As a company, our business goals go beyond just making money. AAG professionals are truly dedicated to making a difference in our customers’ lives and helping as many seniors as we can achieve better outcomes in retirement,” said AAG Chief Executive Officer Reza Jahangiri in a statement about the partnership. “Now, with the BBB partnership, we are able to help even more seniors by protecting them from a broad range of exploitation and abuse.”
Written by Maggie Callahan